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The value or price of the property and the products chosen will affect how much we will lend and what, if any, early repayment charges you will have to pay. For offset mortgages or 95% Tracker rate mortgages, the most we will lend is 95% of the value or purchase price of the property, whichever is the lower. Our limits are lower for offset or 95% Tracker rate mortgage loans of more than £500,000. For fixed rate mortgages or 80% Tracker rate mortgage, the most we will lend is 80% of the value or purchase price of the property, whichever is lower. You must give us a mortgage over your property. We have a right of set-off. If the conditions governing the mortgage require you to pay off the mortgage debt immediately, we may reduce or pay off the debt by using other money belonging to you.
On remortgages, we will give you an amount equal to the standard valuation fee for your property when you enter into the mortgage. We will also pay our conveyancers' legal fees associated with the remortgage. You must pay for any advice you seek on the remortgage or any additional legal services. If you repay a tracker rate mortgage or a fixed rate mortgage on or before 31st March 2007, you must pay us £330 towards the valuation contribution and the remortgage legal fees.
Unless an interest rate is fixed, we may change interest rates. With tracker rate mortgages and fixed rate mortgages, the Intelligent Finance standalone variable mortgage rate will apply to any additional money you borrow from us.
We take into account your personal and financial circumstances and the value or price of the property. These and the products you choose will affect how much we lend you.
With discounted interest rates, the special interest rate will only apply during the special rate period.
Intelligent Finance is a division of Halifax plc. Registered in England No.236076, Registered Office: Trinity Road, Halifax, West Yorkshire HX1 2RG.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
Individual Savings Accounts have replaced PEPs and TESSAs as a way of saving tax free. There are two types of
ISA: mini and maxi. Both can be made up of following components: cash, stocks and shares, and insurance. Mini
ISAs hold these components in separate accounts, and you can hold each mini ISA with a different ISA manager. You can only subscribe to one of each type of mini ISA each tax year and limits apply to the amount you can invest. A maxi ISA must contain the stocks and shares component, but may also include a cash or insurance component or both. All your investments in a maxi ISA must be held with the same ISA manager. If you open a mini cash ISA and you have not already subscribed to a mini stocks and shares or mini insurance ISA (in the same tax year) you will be limiting the amount of tax free savings you can invest in equities.
Intelligent Finance offers a mini cash ISA. You can save up to £3,000 in any tax year. If you have an Intelligent Finance mini cash ISA, you can't subscribe to any other mini cash ISA or any maxi ISA in the same tax year.
The Government may choose to change the tax free status and the savings limits (per tax year) of ISAs.
The minimum initial deposit to open an Intelligent Finance mini cash ISA is £1.00.
There is no minimum annual deposit required.
If the Bank of England base rate moves up, the rate on the mini cash ISA and TESSA - only ISA will change within one calendar month to at least 0.05% above the Bank of England base rate.
The information below sets out the Government's voluntary CAT standards for a cash ISA and explains what Intelligent Finance
does in comparison. If an ISA is described as meeting the CAT standard it does not mean that it is in any way 'Government approved'
or right for you.
No one-off or regular charges of any kind, e.g. no charges for withdrawals or for any regular service (such as the use of cash machines), except that charges for replacements (e.g. duplicate statements, lost cards) are permitted. Intelligent Finance meets this standard.
Minimum transaction size to be no greater than £10. Withdrawals within seven working days or less. Intelligent Finance has no minimal transaction size. There is no limit on the amount or number of withdrawals other than the funds available in the jar. And, there is no notice period for withdrawals, they can be made on the same day as requested.
Interest rate no lower than two percentage points below base rate
(The rate published by the Bank of England in connection with its open market operations). Upward interest rate changes must reflect base rate movements within a calendar month. Downward changes may be slower. No other conditions, e.g. no limits on frequency of withdrawals. Intelligent Finance meets this standard.
Intelligent Finance, a division of Halifax plc, Trinity Road, Halifax, West Yorkshire, HX1, is authorised and regulated by the Financial Services Authority (FSA).
Intelligent Finance Accident, Sickness and Unemployment Insurance is underwritten by Pinnacle Insurance plc., whose registered office is at Pinnacle House, A1 Barnet Way, Borehamwood, Hertfordshire, WD6 2XX.
Pinnacle Insurance plc proposes to choose English law as the law which applies to the policy.
You can, at any time, ask the insurers for detailed information about compensation arrangements. These compensation arrangements apply in the event that an insurer goes into liquidation and cannot pay its debts.
Prior to setting up your policy, if you have any complaint about the service provided by ourselves, please contact Intelligent Finance. Once your policy is in place, if you have any complaint regarding your ASU cover, please contact Pinnacle Insurance plc: Pinnacle House, A1 Barnet Way, Borehamwood, Hertfordshire, WD6 2XX.
Should the matter still not be resolved to your satisfaction, you will have the right to refer your complaint to: Financial Ombudsman Service (FOS), South Quay Plaza, 183 Marsh Wall, London E14 9SR However, please note that there are some instances when the FOS cannot consider complaints.
The above does not affect your legal rights.
Full details of the terms and conditions of Accident, Sickness & Unemployment Insurance are contained in a policy document, copies of which are available on request from: Intelligent Finance, Administration Centre, PO Box 1869, Livingston EH54 7XS.
We may monitor or record telephone calls.
You can only open and operate an Intelligent Finance plan or part of it if you live in the UK. These details should not be regarded as an offer to provide credit or investment products in any jurisdiction outside the UK.
You must be 16 or over. Credit facilities are only available to people aged 18 or over. We take into account your personal and financial circumstances.
A credit reference check will be carried out in respect of each applicant and, whether or not credit is granted, the agency will retain a record of each search for its own use.
Missed payments or under payments on a mortgage are rolled up and added to the loan and must be repaid over the remaining term of the loan.
For more details and written quotations, telephone 0845 609 4343.
If we agree to let you have an overdraft, we will decide your overdraft limit and tell you what it is. Overdrafts are repayable on demand.
We give you the choice of maximising the interest you receive or minimising the interest you pay us. If you choose to pay borrowing rates of interest on your outstanding mortgage balance, we will pay you equivalent interest rates on corresponding amounts in your current account and savings. If you choose to pay no interest on all or part of your outstanding mortgage balance, we will not pay interest on a corresponding part of your current account or savings.
The way we link jars and how we work out interest is explained in the Intelligent Finance conditions.
You should consider the income tax position when deciding which products to have in your Intelligent Finance plan, whether you wish to be paid interest on your savings each month or once a year and which option you want us to use for the balance netting calculation.
AER stands for Annual Equivalent Rate and illustrates what the interest would be if interest was paid and compounded each year. The gross rate is the contractual rate of interest payable before the deduction of income tax at the rate specified by law (currently 20%).
Monthly savings interest rates are available at a slightly lower rate.
Direct access savings account (DASA) interest rates will be applied on your current account if you also have £1 in your DASA, mini cash ISA or TESSA only ISA.
"Tax free" means free of income tax.
From 1st December 2001 the Financial Services Compensation Scheme replaced the Deposit Protection Scheme. Halifax plc is a member of the Financial services Compensation Scheme established under the Financial Services and Markets Act 2000. Where a customer has made deposits in a savings or bank account, payments under the scheme are limited to 100% of the first £2,000 and 90% of the next £33,000 of the customer's total deposits subject to a maximum payment to any one depositor of £31,700. Most deposits denominated in sterling and other European Economic Area currencies and euro made with offices of the bank within the European Economic Area are covered. Further details of the scheme are available on request.
Our products and offers are subject to conditions. We can withdraw them without notice.
We may change charges and make new or different ones (or change the way in which you have to pay them). We may also change interest rates.
We (and any other members of our group of companies) will keep any commission we (or they) receive in connection with any insurance we (or they) arrange.
Credit facilities provided by Intelligent Finance, a division of Halifax plc.
Information correct as at 1st February 2005.
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